JT Stratford LLC Makes New Investment in Snap-On Incorporated $SNA

Key Points

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JT Stratford LLC acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,069 shares of the company's stock, valued at approximately $1,371,000.

A number of other hedge funds have also modified their holdings of SNA. Choreo LLC boosted its stake in shares of Snap-On by 78.3% during the 1st quarter. Choreo LLC now owns 7,218 shares of the company's stock worth $2,432,000 after acquiring an additional 3,170 shares during the period. Ethic Inc. raised its holdings in Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after acquiring an additional 1,445 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Snap-On in the 1st quarter valued at $218,000. OneDigital Investment Advisors LLC raised its holdings in Snap-On by 26.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock valued at $292,000 after acquiring an additional 181 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Snap-On by 27.4% in the 1st quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after purchasing an additional 2,932 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNA has been the topic of several recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird upped their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Bank of America boosted their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Stock Performance

Shares of NYSE SNA traded up $11.3710 during mid-day trading on Friday, hitting $332.7510. The company had a trading volume of 230,404 shares, compared to its average volume of 250,540. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.24 and a beta of 0.76. Snap-On Incorporated has a 1 year low of $268.90 and a 1 year high of $373.89. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The stock's 50-day moving average price is $320.24 and its 200-day moving average price is $324.28.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $5.07 earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's payout ratio is currently 45.65%.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,160 shares of company stock worth $16,650,792 in the last 90 days. Company insiders own 3.90% of the company's stock.

Snap-On Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.